VANCOUVER, BC – March 3, 2020 – February saw steady home buyer demand and reduced home seller supply across Metro Vancouver*.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,150 in February 2020, a 44.9 per cent increase from the 1,484 sales recorded in February 2019, and a 36.9 per cent increase from the 1,571 homes sold in January 2020.

Last month’s sales were 15.6 per cent below the 10-year February sales average.

“Home buyer demand again saw strong year-over-year increases in February while the total inventory...

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales declined between December 2019 and January 2020.

Highlights:

• National home sales fell by 2.9% on a month-over-month (m-o-m) basis in January.
• Actual (not seasonally adjusted) activity was up 11.5% year-over-year (y-o-y).
• The number of newly listed properties was little changed (+0.2%) m-o-m.
• The MLS® Home Price Index (HPI) advanced by 0.8% m-o-m and 4.7% y-o-y.
• The actual (not seasonally adjusted) national average sale price climbed 11.2% y-o-y.

Home sales recorded over Canadian MLS®&n...

The British Columbia Real Estate Association (BCREA) reports that a total of 4,426 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in January 2020, an increase of 23.7 per cent from the 3,579 units sold in January 2019. The average MLS® residential price in BC was $725,370, a 9.1 per cent increase from $664,633 recorded the previous year. Total sales dollar volume in January was $3.2 billion, a 35 per cent increase over 2019.

“Housing markets in BC are off to a strong start in 2020,” said BCREA Chief Economist Brendon Ogmundson. “We expect...

Home sale and price activity remained steady in Metro Vancouver* to start 2020 while home listing activity declined in January.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,571 in January 2020, a 42.4 per cent increase from the 1,103 sales recorded in January 2019, and a 22.1 per cent decrease from the 2,016 homes sold in December 2019.

Last month’s sales were 7.3 per cent below the 10-year January sales average.

“We've begun 2020 with steady home buyer demand that tracks close to the region's long-term average,”...

BCREA 2020 First Quarter Housing Forecast Update

The British Columbia Real Estate Association (BCREA) released its 2020 First Quarter Housing Forecast Update today.

Multiple Listing Service® (MLS®) residential sales in the province are forecast to increase 10.3 per cent to 85,290 units this year, after recording 77,349 residential sales in 2019. MLS® residential sales are forecast to increase 6.3 per cent to 90,700 units in 2021.

“The outlook for home sales in 2020 is considerably brighter than the past two years,” said Brendon Ogmundson, BCREA Chief Economist....

The British Columbia Real Estate Association (BCREA) reports that a total of 77,331 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2019, a decline of 1.5 per cent from the 78,516 units sold in 2018. The annual average MLS® residential price in BC was $700,460, a decline of 1.6 per cent from $711,564 recorded the previous year. Total sales dollar volume was $54.2 billion, a 3 per cent decline from 2018.

“Housing markets across the province staged a strong recovery in the second half of 2019,” said BCREA Chief Economist Brendon Ogmundson. &...

The trend in housing starts was 212,160 units in December 2019, compared to 219,921 units in November 2019, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“The national trend in housing starts decreased in December,” said Bob Dugan, CMHC's chief economist. “The declines are primarily led by lower-trending multi-family starts in Toronto, Montreal and Ottawa. However, the stable starts at year-end in Vancouver and significant growth in Calgary helped...

The Metro Vancouver* housing market experienced below average sales activity and moderate price declines in 2019.

The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment homes reached 25,351 in 2019, a three per cent increase from the 24,619 sales recorded in 2018, and a 29.6 per cent decrease over the 35,993 residential sales in 2017.

Last year’s sales total was 20.3 per cent below the region’s 10-year sales average.

“We didn’t see typical seasonal patterns in 2019.Home buyer demand was quieter in the normally busy spring...

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales continued to edge higher in November 2019.

Highlights:

• National home sales rose 0.6% month-over-month (m-o-m) basis in November.
• Actual (not seasonally adjusted) activity was up 11.3% year-over-year (y-o-y).
• The number of newly listed properties dropped by 2.7% m-o-m.
• The MLS® Home Price Index (HPI) advanced by 0.8% m-o-m and 2.6% y-o-y.
• The actual (not seasonally adjusted) national average sale price climbed 8.4% y-o-y.

Home sales recorded via Canadian MLS® Systems inched up by 0.6%...

The British Columbia Real Estate Association (BCREA) reports that a total of 6,616 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, an increase of 27.5 per cent from the same month last year. The average MLS® residential price in the province was $746,939, an increase of 5.5 per cent from November 2018. Total sales dollar volume was $4.94 billion, a 34.4 per cent increase from the same month last year.

“After several months of strong gains, home sales are now firming around long-run averages,” said BCREA Chief Economist Brendon Ogmundson....

The trend in housing starts was 219,047 units in November 2019, compared to 218,253 units in October 2019, according to Canada Mortgage and Housing Corporation (CMHC).This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. 

“The national trend in housing starts was essentially unchanged in November, reflecting slight increases in the national trends of both multi-family and single-detached starts" said Bob Dugan, CMHC's chief economist. “Vancouver saw a significant decline in the trend of multi-unit starts for...

After a quieter first half of 2019, home buyer activity has returned to more historically typical levels in Metro Vancouver*.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,498 in November 2019, a 55.3 per cent increase from the 1,608 sales recorded in November 2018, and a 12.6 per cent decline from the 2,858 homes sold in October 2019.

Last month’s sales were four per cent above the 10-year November sales average.

“We started to see more home buyer confidence in the summer and this trend continues today,” says Ashley...

We live in our homes very differently then when we try to sell them. Ensuring your home appeals to the broadest of audiences, is critical in getting the maximum dollar value possible. We have all walked into a show home and fallen in love. Ever wonder why? One reason is that developers spend a great deal of time and effort to ensure the home shows well. That is the same sense we want to convey to a buyer when they walk into your home, “Wow this place shows so well!”

So how do we do that? Decluttering and depersonalizing goes a long way to achieve this goal. Decluttering helps make the...

Central 1 Credit Union is forecasting a recovery for Metro Vancouver and B.C.'s real estate market

A new report from Central 1 Credit Union suggests Metro Vancouver’s housing market could be bouncing back faster than anticipated.

The institution’s 2019-2021 B.C. Resale Market Housing Outlook said demand is picking up once again after the 2018 real estate slowdown, amid lower mortgage rates and continued population growth.